Star Hotels’ expansion and diversification continues with purchase of the Central Hotel in Townsville.
Steven Shoobridge’s Star Group lays claim to being Queensland’s largest independently owned and operated pub and liquor retail chain.
The company moved into hospitality in 1996 with rapid purchase of three venues. In 2009 it rebranded to the Star Group, having acquired nine licensed venues, six retail liquor warehouses and 30 detached bottleshops.
Star has now grown to hold a portfolio of 23 licensed venues, more than sixty retail liquor outlets and six accommodation venues, and employ over 950 people.
The accommodation counts the Kingsford Smith Hotel, Park Avenue Motor-Hotel, and proximate Rydges Townsville.
Star are understood to have paid around $9.5 million for the 3-star Central, and to have already entered negotiations on another purchase.
The sale is demonstrative of continued demand for strong Queensland hotels and tourism assets, including confidence in regions outside the south-east.
The transaction was negotiated by CBRE Hotels’ Wayne Bunz, Hayley Manvell and Paul Fraser on behalf of private vendors.
